New Member - Live in St. Louis, investing in Ohio

New Member - Live in St. Louis, investing in Ohio

Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes

Hello BP community. My name is David Hayes, my day job is currently Mechanical Engineer/Project Manager for Procter & Gamble and I'm moonlighting as a real estate investor (and photographer...but that's another conversation).

I started in real estate by converting my personal residence in Cincinnati to an investment rental property when I got relocated with P&G to St. Louis at the end of 2009. In 2012, I partnered with my brother, @Brian Hayes, to form Hayes Enterprises, LLC in Columbus Ohio. As of April 2014, we are working to sell our first flip and we are still managing 3 additional rental properties.

Our general goal is continue flipping while building our rental portfolio.

I hope to also be a contributor to the site - with a few transactions under our belt we are not brand new, but definitely still learning the ropes. If you have questions about the Columbus market, fee simple townhouses, hard money lenders or forming an LLC to name a few topics, I would be glad to throw in my 2 cents from what we've learned so far, or if you are looking to buy a new digital camera I would be glad to point you in the right direction - Nikon of course ;)

I've been listening to the podcasts and reading various articles/forums and definitely believe this is a great community and I am looking forward to being a small part of it.

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  • Saint Louis, MO · Member since 2009 · 168 posts · 40 votes
    12y

    Welcome David. Is there any reason you haven't looked around St. Louis?

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    12y

    Welcome to the site Dave

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes
    12y

    Thanks for the welcome Jonathan and James.

    James - Right now I'm not looking to invest in St. Louis because I'm not planning on being here long term. I'll probably be back in Ohio within the next year or two. Although I see you seem to be doing well building your rentals here. What areas are you focused on? I would be curious to know the market here a little better.

  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    12y
    Originally posted by @David Hayes:
    Hello BP community. My name is David Hayes, my day job is currently Mechanical Engineer/Project Manager for Procter & Gamble and I'm moonlighting as a real estate investor (and photographer...but that's another conversation).

    I started in real estate by converting my personal residence in Cincinnati to an investment rental property when I got relocated with P&G to St. Louis at the end of 2009. In 2012, I partnered with my brother, @Brian Hayes, to form Hayes Enterprises, LLC in Columbus Ohio. As of April 2014, we are working to sell our first flip and we are still managing 3 additional rental properties.

    Our general goal is continue flipping while building our rental portfolio.

    I hope to also be a contributor to the site - with a few transactions under our belt we are not brand new, but definitely still learning the ropes. If you have questions about the Columbus market, fee simple townhouses, hard money lenders or forming an LLC to name a few topics, I would be glad to throw in my 2 cents from what we've learned so far, or if you are looking to buy a new digital camera I would be glad to point you in the right direction - Nikon of course ;)

    I've been listening to the podcasts and reading various articles/forums and definitely believe this is a great community and I am looking forward to being a small part of it.

    haha Great post David.

    You live inn a great market and invest in one also.

    I have been living in Kansas City for the past 2 years and am just about to move to Ohio.

    The Midwest offers some dream deals and hopefully this opportunity will still last for another couple years so we can buy up as much as possible lol

    Thanks for reading and have a great day.

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @David Hayes welcome to BP! I'm glad you're enjoying the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.

    Also - be sure to check out the post "House Flipping: The Best of BiggerPockets." It's a collection of the best flipping info from the site.

    See you around the site!

  • Ft Mitchell, KY · Member since 2013 · 11 posts · 2 votes
    12y

    Welcome @David Hayes! I would love to learn more about your experience with a hard money lender as we have been toying with the idea of using one our selves.

  • New Bremen, OH · Member since 2013 · 24 posts · 2 votes
    12y

    Welcome to BP @David Hayes!

    I am trying to get started in the Dayton market and I look forward to hearing about your adventures and goals in Columbus!

  • Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    12y

    David welcome

  • Residential Landlord · Columbus, OH · Member since 2013 · 38 posts · 2 votes
    12y

    Welcome, David. I joined the site a few months and am located in Columbus. I'm looking to purchase my first buy and hold, but it has proven more difficult than I first imagined. Probably due to my high demands.

    What areas of Columbus do you work in most often?

    Who is your preferred hard money lender?

    What is your long term strategy - Buy and hold, flips, or both?

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes
    12y

    Thanks @John Cunningham

    So far we haven’t actually executed a deal with hard money, we just recently got approved. Within the last few weeks we have started submitting cash bids on potential flips with this hard money approval. How we got approved with the hard money lender was by bringing them a deal that was going to be awesome – they agreed, looked through our financials – we needed to have some money in the bank and an acceptable debt to income, then they approved us to start submitting cash offers with some specific terms of how each deal would be done and what types of houses they are aligned with lending on. Since the first deal was so awesome it got bid up, so we didn't get it, an offer we put in on another house we were one of 34 offers on it...didn't get that one either. We have a bid in on a house right now, we are currently the high bidder – so hopefully within the next few days we’ll be in contract on our first deal with this funding method.

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes
    12y

    Thanks for the kind welcome @Engelo Rumora, what is bringing you to Ohio from KC?

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes
    12y

    Thanks @Brandon Turner – yes I need to get my keyword alerts set up. I’ll check out that post – looks great.

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes
    12y

    Thanks @John Van Fosen

    Right now we have 4 buy/hold rentals in northwest Columbus (Powell/Worthington), but there are many good areas, Westerville, Hilliard, Reynoldsburg, Dublin, etc.

    We just started with hard money, so I guess by default Autumnwood is our preferred since they are also the only ones right now. We found them via BiggerPockets, they seem like a good lender.

    Long term strategy is rentals, but we will probably do a combination of both for quite a while.

  • Rental Property Investor · Columbus, OH · Member since 2012 · 181 posts · 51 votes
    12y

    Welcome @David Hayes ! Met with your bro yesterday. Good guy! Hope to meet you soon.

    Let me know if you need anything.

    Steve

  • Darrin CareyPro Member
    Lender · Dayton, OH · Member since 2008 · 1k+ posts · 705 votes
    12y

    @David Hayes Welcome to BP. Have you guys checked out COREE in Columbus?

    @Samuel Larger I'm loving the Dayton market. Come on in.

  • Darrin CareyPro Member
    Lender · Dayton, OH · Member since 2008 · 1k+ posts · 705 votes
    12y

    @David Hayes Autumnwood is good. I've referred people to them. Chris and Kim are both great guys.

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes
    12y

    Thanks @Steve Baldwin , Brian said he really enjoyed talking with you, I am sure we will meet sometime soon. Thanks for reaching out.

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 48 posts · 16 votes
    12y

    Thanks @Darrin Carey , I have heard good things about COREE but have not checked it out yet. I think Brian was going to go once, but one of these winter vortex storms had other plans.

  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    12y

    Hello David. You came to the right place! I'm a buy/fix and hold investor in the Bay in CA. But you'll find a variety of all strategies here on the website. A few tips on the website and on meeting some fellow investors:

    Search for local meetups here or google a local REI club to network with other investors. On the site, the "Learn" link across the top navigation bar has lots of great info, and so do the forums. You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the 'vote' button if you like someone's post or is helpful, and there are 'awards' to earn on your profile. Good luck on everything!

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